Trade News

Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

Macroeconomic data showed that Canada reported international merchandise trade deficit of C$3.18 billion in September, from a revised international merchandise trade deficit of C$3.18 billion in the prior month. Market had anticipated the nation to report a trade deficit of C$3.0 billion.

Meanwhile, the unemployment rate in Canada unexpectedly rose to 6.3% in October, compared to market expectations of an unchanged reading. In the prior month, the unemployment rate stood at 6.2%.

In the Asian session, at GMT0400, the pair is trading at 1.2768, with the USD trading a tad higher from Friday’s close.

The pair is expected to find support at 1.271, and a fall through could take it to the next support level of 1.2652. The pair is expected to find its first resistance at 1.2831, and a rise through could take it to the next resistance level of 1.2894.